Intercont (Cayman) Limited (NASDAQ:NCT) Short Interest Update

Intercont (Cayman) Limited (NASDAQ:NCT) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totaling 3,134,393 shares, a growth of 5,127.8% from the August 31st total of 59,956 shares. Approximately 5,913.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 31,280,175 shares, the days-to-cover ratio is presently 0.1 days.

Intercont (Cayman) Price Performance

Shares of Intercont (Cayman) stock opened at $4.65 on Friday. The business has a 50 day simple moving average of $66.78 and a two-hundred day simple moving average of $68.07. Intercont has a 12 month low of $4.53 and a 12 month high of $1,025.00.

Hedge Funds Weigh In On Intercont (Cayman)

An institutional investor recently raised its position in Intercont (Cayman) stock. Renaissance Technologies LLC grew its stake in Intercont (Cayman) Limited (NASDAQ:NCT) by 258.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 413,900 shares of the company’s stock after purchasing an additional 298,337 shares during the period. Renaissance Technologies LLC owned approximately 31.36% of Intercont (Cayman) worth $30,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Wall Street Analyst Weigh In

NCT has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Intercont (Cayman) to a “sell” rating in a research report on Saturday, June 13th. Weiss Ratings restated a “sell (d)” rating on shares of Intercont (Cayman) in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Intercont (Cayman) has an average rating of “Sell”.

About Intercont (Cayman)

Intercont (Cayman) Ltd. is a holding company, which engages in the provision of global maritime shipping services through its subsidiaries. Its services include time chartering and vessel management. The company was founded on July 4, 2023 and is headquartered in Hong Kong.